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Ireland’s workers suffered badly during the economic and financial crisis. The unemployment rate more than tripled from 4.6% in Q1 2007 to its peak of 15.1% in Q4 2011. The situation was even more drastic for 15-24 year olds. The youth unemployment rate rose from 8.8% to just over 31% in the first half of 2012, with a substantial increase in the number of youth not working and not in education or training.
OECD Employment Outlook 2012: chapter summaries
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The US labour market continues its slow recovery from the 2008-09 recession, but the unemployment rate remains significantly higher than before the financial crisis
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The UK economy has been broadly flat over the past two years. Employment has risen slightly, while the unemployment rate has stayed close to 8%. Projections in the 2012 OECD Employment Outlook foresee some increase in the unemployment rate that could even reach 9% in 2013.
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Despite some decline in the number of registered unemployed in June, high levels of unemployment in Spain are set to persist in the short-run, given its weak economic growth prospects.
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Mexico has experienced a stronger economic recovery than most other OECD countries accompanied by strong employment growth.
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The Korean labour market continues to perform well after a quick recovery from the global economic crisis. Korea’s unemployment rate was 3.2% in May 2012, 0.2% point lower than a year earlier, and nearly down to its pre-crisis level of 3.1%.
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The labour market recovery in Japan began strongly but has weakened since.
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Employment outlook 2012 Did you know excel
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Italy has been hit hard by the crisis and unemployment may rise further. The recent recession hit the Italian economy hard with the country experiencing a large fall in GDP at the height of the crisis in 2009